Siemens 2012 Annual Report Download - page 107

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timely manner. The Audit Committee discussed the Managing Board’s proposal for the appropriation of
net income in detail at its meeting on November 6, 2012. The Committee discussed the Annual Financial
Statements of Siemens AG, the Consolidated Financial Statements of Siemens worldwide and the
Combined Management Report in detail at its meeting on November 27, 2012.
The audit reports prepared by Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft were distributed
to all members of the Supervisory Board and comprehensively reviewed at our meeting on November 28,
2012 in the presence of the independent auditors, who reported on the main findings of their audit.
The independent auditors also reported that there were no major weaknesses in the Company ’s internal
audit or risk management systems. At this meeting, the Managing Board explained the financial state-
ments of Siemens AG and Siemens worldwide as well as the Company ’s risk management system. The
independent auditors also discussed the scope, focal points and costs of the audit.
We concur with the results of the audit. Following the definitive findings of the examination by the
Audit Committee and our own examination, we have no objections. The Managing Board prepared the
Annual Financial Statements of Siemens AG and the Consolidated Financial Statements of Siemens
worldwide. We adopted the Annual Financial Statements and approved the Consolidated Financial State-
ments
. We endorse the Managing Board’s proposal that the net income available for distribution be
used to pay out a dividend of €3.00 per share entitled to a dividend and that the amount of net income
attributable to shares of stock not entitled to receive a dividend for fiscal 2012 be carried forward.
Changes in the composition of the Supervisory and Managing Boards
Dieter Scheitor resigned from the Supervisory Board, effective the end of the regular Annual Share-
holders’ Meeting on January 24, 2012. Effective January 25, 2012, Jürgen Kerner was appointed to the
Supervisory Board by court order. At the Supervisory Board meeting on January 23, 2012, Mr. Kerner
was elected to succeed Mr. Scheitor as employee representative on the Audit Committee and the Finance
and Investment Committee, effective January 25, 2012. The Supervisory Board would like to thank
Mr. Scheitor for his many years of loyal support.
There were no changes in the composition of the Managing Board in fiscal 2012.
The Supervisory Board would like to thank the members of the Managing Board as well as the employees
and the employee representatives of all Siemens companies for their work.
For the Supervisory Board
Dr. Gerhard Cromme
Chairman
Berlin and Munich, November 28, 2012